Baxter Faces Investor Lawsuit Over Infusion Pumps
Investors have filed a lawsuit against Baxter (NYSE:BAX), claiming the company violated federal securities laws due to issues with certain infusion pumps.
The class action suit, filed in the Court for the Northern District of Illinois, seeks a trial by jury to recover damages related to the rollout of the Novum IQ large-volume infusion pump (LVP).
The lawsuit pertains to those who acquired Baxter common stock between February and the present, following the launch of the Novum IQ LVP in Canada in late 2020 and in the U.S. in April 2024 after receiving FDA clearance.
The company called the launch a “landmark achievement,” with Novum IQ representing a “promising multiyear growth driver.”
However, the Novum IQ pumps have been subject to regulatory hurdles in recent years.
Author's summary: Baxter faces lawsuit over infusion pumps issues.
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